Startup · $86m raised
Sydney, NSW
Every investor coverage indicates participated in a round Milkrun raised.
| Investor | Rounds | Invested |
|---|---|---|
| AirTree Ventures | Series A · Seed | - |
| Grok Ventures | Series A · Seed | - |
| Skip Capital | Series A · Seed | - |
| Mike Cannon-Brookes | Series A | - |
| Tiger Global | Series A | $75,000,000 |
The transaction that ended Milkrun's run as a startup, per published coverage. It closes the funding history too, where it is the ladder's last rung.
Companies Milkrun acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming Milkrun. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Furniture brand Koala has secured $20 million ahead of its ASX debut at a $305 million valuation, while early backers including cofounder Mitch Taylor sold down some of their stakes.
Koala heads to the Australian bourse with a float mixing fresh equity and shareholder sell-downs, while a Test cricketer's decade-old six-figure backing of the furniture startup draws the spotlight.
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Menulog, the Sydney-founded food delivery pioneer, shuts down this month under owner Just Eat Takeaway, recently acquired by Prosus; the article recalls its 2015 merger and sale and a string of failed delivery rivals.
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Woolworths, via its Healthylife arm, led telehealth firm Hola Health's $6m Series A at a $70m valuation, with M8 Ventures and FundWA backing; the Perth company raised $4.5m a year earlier.
Blackbird announces it led Clove's US$2.75 million pre-seed round. Founders Anna Guerrero and Sam Killin, formerly of Canva, are building a recipe creation and discovery platform ahead of a beta launch.
Property management startup Different has gone into administration with KPMG after failing to raise new capital, despite backing from AirTree and CBA's venture arm; the piece also recalls the failures of Milkrun and Brosa.
Property management startup :Different has entered voluntary administration with KPMG appointed, after failing to secure further funding; the article recalls its earlier capital raises.
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Online gin retailer Gintonica has entered administration weeks after being put up for sale, with the article also recalling administrations at Kaddy Group and BoozeBud and Milkrun now operating under Woolworths.
Meat subscription startup Our Cow rolled out Sydney same-day delivery, recalled a Birchal crowdfunding raise above $2 million, and disclosed acquisitions of VOLY's assets and Brisbane Valley Farm Direct's online business.
Eucalyptus buys Jenny Craig's online assets out of administration while stores shut; the health startup's recent raise and earlier rounds are recapped, alongside other distressed-brand acquisitions.
Weekly agrifoodtech roundup covering several raises including Neat Burger, Debut and Earthodic, Woolworths buying delivery startup Milkrun, and shutdowns at Anuvia Plant Nutrients and Made By Cow.
Woolworths has relaunched the collapsed Milkrun brand atop its Metro60 delivery service after buying the name and assets; the piece reflects on the quick-grocery startup's rapid rise, big venture raise and February demise.
Woolworths has bought the collapsed grocery delivery brand Milkrun and will rebrand its Metro60 service under the name, while other food delivery startups including Voly, Providoor, SEND and CoLab have also shut or been acquired.
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Online liquor retailer BoozeBud entered voluntary administration on May 2, with William Buck halting sales and exploring a sale; the article also recalls its earlier ownership changes and other failed delivery startups.
BoozeBud has entered administration, with William Buck's Michael Brereton and Sean Wengel appointed. The piece recounts the online alcohol retailer's 2018 sale to ZX Ventures, its 2020 sale back to founders, and its Get Wines Direct acquisition.
E-bike subscription startup Zoomo cut 27 roles in its second restructuring in six months, weeks after client Milkrun's collapse, and disclosed a previously unreported $24 million raise led by Grok Ventures and the CEFC.
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Shane Delia's meal-order platform Providoor has gone into liquidation after three years, with RSM appointed; the article also recalls collapses at Milkrun, Send and Voly, plus Efoodz buying CoLab's assets.
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Ignition Lane's weekly wrap: Tiger Global's losses and past Australian bets, MilkRun and TradeSquare closures, Cyara's Spearline acquisition, a Co Ventures pre-seed fund, Square Peg's partner promotion and LaunchVic's 30×30 picks.
SmartCompany reports two large Australian raises within a day: Novalith's $23 million Series A and Propeller's $22 million round, both well above earlier raises, against a slow first quarter for venture funding.
Instant grocery delivery startup Milkrun is winding up, with co-founder Dany Milham telling staff trading ends this week. The article recalls its $75 million Series A backed by AirTree, Grok Ventures and Skip Capital.
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Ready-meal platform CoLab has entered voluntary administration after a financing round collapsed, with EY partners appointed; the piece also recalls failures across Australian food delivery, including Deliveroo Australia, Voly, Send and Quicko.
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Gourmet food marketplace ChefPrep, rebranded CoLab after buying its Melbourne rival, has entered voluntary administration with EY appointed, despite earlier angel and seed raises, as creditors meet and a sale process begins.
Ignition Lane's year-end review of 2022 tech news: shifting VC sentiment, record Australian fund raises, grocery delivery failures and shutdowns, local M&A, crypto fallout, awards, and global stories from Twitter to ChatGPT.
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VOLY, an instant grocery delivery startup, has halted orders and removed its social media accounts; unverified sources say it lacks the capital to keep operating.
Australian venture firms Airtree, Square Peg and Blackbird have written down their Canva stakes, valuing the design company well below its last raise, amid wider market corrections hitting Klarna and other late-stage startups.
Opinion analysis arguing Woolworths' Metro60 one-hour grocery service threatens venture-backed rapid delivery startups, citing SEND's shutdown, VOLY's staff cuts and Milkrun's funding reliance as evidence the 15-minute model is unsustainable in Australia.
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Weekly tech wrap: cloud-market trends, Tiger Global's cheques into Stake, Shippit and Carma, new VC funds, several acquisitions, grocery delivery startups Send and Quicko collapsing, and Elaine Stead joining M8 Ventures.
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Analysis of why rapid grocery delivery startups SEND and Quicko have shut down, with a retail academic explaining the tough economics facing remaining players Milkrun and Voly against major retailers and meal apps.
Grocery delivery app SEND has entered voluntary administration with Worrells appointed; the article recalls its 2021 raise backed by Cherry Ventures and FJ Lab.
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Delivery e-bike firm Zoomo has added US$20 million to its Series B, led by Collaborative Fund, three months after an $80 million round backed by the Atlassian founders' vehicles, lifting total funding beyond $100 million.
Ignition Lane's weekly tech roundup: AirTree raises $700m across three new funds, dozens of Australian startups announce rounds, a wave of acquisitions including Block completing its Afterpay buy, plus Web3 commentary and US market moves.
Sydney venture firm AirTree has raised A$700 million across three vehicles — an early-stage fund, a web3 fund and a growth fund — with superannuation funds as backers. Its portfolio includes Canva, Linktree and Immutable.
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Koala co-founder Dany Milham's rapid grocery delivery venture Milkrun has launched with a $75 million Tiger Global-led Series A, following an earlier $11 million seed round; Tiger also backed wholesale marketplace TradeSquare.
Milkrun, Dany Milham's four-month-old rapid grocery delivery startup, has raised a $75 million Series A led by Tiger Global, with Airtree, Skip and Grok also investing; it had earlier raised A$11 million in mid-2021.
HR software maker Enboarder lands $45 million from US growth backer NewSpring, with a NewSpring partner joining the board; the piece also recaps its earlier Series A top-up and other recent local rounds.
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